Energy Transfer - ET Stock Forecast, Price & News

Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users. The company owns and operates natural gas gathering and natural gas liquid (NGL) pipeline, processing plant, and treating and conditioning facilities in Texas, New Mexico, West Virginia, Pennsylvania, Ohio, Oklahoma, Arkansas, Kansas, and Louisiana; natural gas gathering, oil pipeline, and oil stabilization facilities in South Texas; and a natural gas gathering system in Ohio, as well as transport and supplies water to natural gas producer in Pennsylvania. It owns approximately 5,215 miles of NGL pipeline; NGL and propane fractionation facilities; NGL storage facilities with working storage capacity of approximately 50 million barrels (MMBbls); and other NGL storage assets and terminal with an aggregate storage capacity of approximately 17 MMBbls. The company provides crude oil transportation, terminalling, acquisition, and marketing activities; and sells and distributes gasoline, middle distillate, and motor fuels and other petroleum product. It offers natural gas compression service; carbon dioxide and hydrogen sulfide removal, natural gas cooling, dehydration, and British thermal unit management service; and manages coal and natural resources properties, as well as sells standing timber, leases coal-related infrastructure facilities, collects oil and gas royalty, and generate electrical power. The company was formerly known as Energy Transfer Equity, L.P. and changed its name to Energy Transfer LP in October 2018. The company was founded in 1996 and is headquartered in Dallas, Texas.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $11.62 on Thursday. The stock has a market capitalization of $35.87 billion, a price-to-earnings ratio of 9.30 and a beta of 1.90. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.15 and a quick ratio of 0.98. The business has a 50-day moving average of $10.57 and a 200 day moving average of $10.74. Energy Transfer has a 12 month low of $7.96 and a 12 month high of $12.48.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Monday, August 8th will be issued a $0.23 dividend. The ex-dividend date is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 7.92%. This is a boost from Energy Transfer's previous quarterly dividend of $0.20. Energy Transfer's payout ratio is 73.60%.

Analyst Ratings Changes

Several research analysts recently commented on ET shares. Morgan Stanley boosted their price objective on shares of Energy Transfer from $12.00 to $15.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 26th. US Capital Advisors reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Wednesday, June 1st. Finally, Barclays increased their price target on shares of Energy Transfer from $13.00 to $14.00 and gave the stock an "overweight" rating in a report on Tuesday. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Energy Transfer currently has a consensus rating of "Buy" and an average price target of $14.38.

Insider Buying and Selling

In related news, Director Richard D. Brannon acquired 26,027 shares of the business's stock in a transaction dated Thursday, July 14th. The shares were acquired at an average price of $9.47 per share, with a total value of $246,475.69. Following the completion of the transaction, the director now owns 388,347 shares of the company's stock, valued at $3,677,646.09. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Richard D. Brannon acquired 26,027 shares of the firm's stock in a transaction dated Thursday, July 14th. The stock was acquired at an average price of $9.47 per share, for a total transaction of $246,475.69. Following the purchase, the director now owns 388,347 shares of the company's stock, valued at approximately $3,677,646.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Kelcy L. Warren bought 1,591,092 shares of Energy Transfer stock in a transaction that occurred on Tuesday, August 9th. The stock was purchased at an average cost of $10.94 per share, for a total transaction of $17,406,546.48. Following the acquisition, the chairman now owns 49,578,477 shares of the company's stock, valued at $542,388,538.38. The disclosure for this purchase can be found here. 3.28% of the stock is owned by insiders.